CVR Partners (NYSE:UAN) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of CVR Partners (NYSE:UAN – Get Rating) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

CVR Partners Stock Performance

Shares of NYSE UAN opened at $122.17 on Tuesday. The company has a market cap of $1.29 billion, a PE ratio of 4.22 and a beta of 1.58. CVR Partners has a 12 month low of $51.00 and a 12 month high of $179.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.96 and a quick ratio of 1.09. The company has a 50-day simple moving average of $107.86 and a 200-day simple moving average of $119.26.

CVR Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, August 12th will be issued a dividend of $10.05 per share. The ex-dividend date of this dividend is Thursday, August 11th. This is an increase from CVR Partners’s previous quarterly dividend of $2.26. This represents a $40.20 dividend on an annualized basis and a dividend yield of 32.90%. CVR Partners’s payout ratio is 31.24%.

Institutional Investors Weigh In On CVR Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of CVR Partners by 46.7% in the first quarter. JPMorgan Chase & Co. now owns 202,126 shares of the basic materials company’s stock worth $27,887,000 after acquiring an additional 64,311 shares during the last quarter. Zazove Associates LLC acquired a new position in CVR Partners during the first quarter valued at approximately $8,375,000. Bank of Montreal Can acquired a new position in CVR Partners during the first quarter valued at approximately $7,592,000. UBS Group AG lifted its position in CVR Partners by 103.6% during the first quarter. UBS Group AG now owns 24,454 shares of the basic materials company’s stock valued at $3,374,000 after buying an additional 12,442 shares in the last quarter. Finally, Adams Asset Advisors LLC acquired a new position in CVR Partners during the first quarter valued at approximately $3,035,000. 21.33% of the stock is currently owned by hedge funds and other institutional investors.

About CVR Partners

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CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea and ammonium nitrate products to agricultural customers, as well as retailers and distributors.